VARANASI DEVELOPMENT AUTHORITY,VARANASEE vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW
In the result appeal filed by assessee in ITA no
ITA 267/ALLD/2017[2014-15]Status: DisposedITAT Varanasi06 Jul 2022AY 2014-15
Bench: Shri Vijay Pal Rao & Shri Ramit Kochar
For Appellant: ShriAshishBansal, AdvocateFor Respondent: ShriSunil Bajpai, CIT- D.R
Section 11Section 12Section 12ASection 143(3)Section 2(15)
131, 135, 136 (Ori)]. Also see,
Khoday Distilleries Ltd. v. State of Karnataka, JT 1994 (6) SC 588, 625-26."
(ii) Meaning and Concept of “Trade” and “Commerce”
In the Commentary on Income Tax law by Chaturvedi&Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition):
“Trade or Commerce- The definition of 'trade' does
